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world."
ABOUT CF&P
Center’s Information The Center for Freedom and Prosperity (CF&P) is a non-profit organization created to advance market liberalization. The top project of CF&P is the Coalition for Tax Competition, which is fighting to preserve jurisdictional tax competition, fiscal sovereignty, and financial privacy from erosion by internationalbureaucrats.
BIDEN’S MISGUIDED KEYNESIAN “STIMULUS” Mr. Biden is bringing a new twist to the profligacy. Instead of trying to justify the new spending by saying it is needed to compensate households and businesses for government-mandated lockdowns, he is making the Keynesian argument that the new spending is a way of stimulating the economy. The same approach was used when he was Vice President, of course, but did not yield IMMIGRATION, PART II: TURNING AMERICA INTO A WELFARE MAGNET Immigration, Part II: Turning America into a Welfare Magnet. Posted on March 27, 2021 by Dan Mitchell. In Part I of this series, I explained why it’s absurd to think illegal immigration can be stopped by sending foreign aid to less-developed countries, such as many of those in Central America. Simply stated, government-to-government handouts EXPANDING THE WELFARE STATE WITH PER-CHILD HANDOUTS Expanding the Welfare State with Per-Child Handouts. Two days ago, I shared data showing that people in the big nations of Western Europe only have about 75 cents of income for every $1 that Americans earn. That’s a remarkable gap, and it’s getting larger rather than smaller, even though theory says that shouldn’t happen. GEORGE H.W. BUSH’S ILL-FATED LUXURY TAX The great, late, Walter Williams opined on this issue more recently. Here are segments of his 2011 column. Let’s look at what happened whenGeorge H.W. Bush signed the Omnibus Budget Reconciliation Act of 1990 and broke his “read my lips” vow not to agree to new taxes. When Congress imposed a 10 percent luxury tax on yachts, private HOW DO WE RESCUE YOUNG PEOPLE FROM SOCIALISM? Some recent polling data is very discouraging. I started fretting about the socialist tendencies of young people early last decade. And when Sanders attracted a lot of youth support in 2016, I gave the issue even more attention, and I’ve since continued to investigate why so many young people are sympathetic to such a poisonous ideology with a lengthy track record of failure and deprivation. THE ECONOMIC EFFECTS OF WEALTH TAXES 3 wealth taxes, down from a high of 12 countries in 1996.4 Specifically, Norway imposes a wealth tax at 0.15 percent at the national level plus 0.70 percent at the municipality level for a FISCAL POLICY LESSONS FROM ICELAND Fiscal Policy Lessons from Iceland. Iceland is a tiny little country with just 338,000 people (about the population of Santa Ana, CA), but that doesn’t mean it can’t teach us lessons about public policy. I wrote about the nation’s approach to fisheries in 2016, and explained that the property rights-based system is the best way of HOW WOMEN ARE DISADVANTAGED BY THE TAX CODE AND SOCIAL For instance, the elimination of all of these marriage-based rules raises participation at age 25 by over 20 percentage points for married women and by five percentage points for single women. At age 45, participation for these groups is, respectively, still 15 and 3 percentage point higher without these marital benefits provisions. FREEDOM AND PROSPERITYBLOGNEWSPUBLICATIONSOPINION & COMMENTARYVIDEOSISSUES "I write to express support for the Center for Freedom and Prosperity's support of tax competition." ~ Milton Friedman, Nobel Laureate ~ "By fighting against an international tax cartel and working to preserve financial privacy, the Center for Freedom and Prosperity is protecting taxpayers, both in America and around theworld."
ABOUT CF&P
Center’s Information The Center for Freedom and Prosperity (CF&P) is a non-profit organization created to advance market liberalization. The top project of CF&P is the Coalition for Tax Competition, which is fighting to preserve jurisdictional tax competition, fiscal sovereignty, and financial privacy from erosion by internationalbureaucrats.
BIDEN’S MISGUIDED KEYNESIAN “STIMULUS” Mr. Biden is bringing a new twist to the profligacy. Instead of trying to justify the new spending by saying it is needed to compensate households and businesses for government-mandated lockdowns, he is making the Keynesian argument that the new spending is a way of stimulating the economy. The same approach was used when he was Vice President, of course, but did not yield IMMIGRATION, PART II: TURNING AMERICA INTO A WELFARE MAGNET Immigration, Part II: Turning America into a Welfare Magnet. Posted on March 27, 2021 by Dan Mitchell. In Part I of this series, I explained why it’s absurd to think illegal immigration can be stopped by sending foreign aid to less-developed countries, such as many of those in Central America. Simply stated, government-to-government handouts EXPANDING THE WELFARE STATE WITH PER-CHILD HANDOUTS Expanding the Welfare State with Per-Child Handouts. Two days ago, I shared data showing that people in the big nations of Western Europe only have about 75 cents of income for every $1 that Americans earn. That’s a remarkable gap, and it’s getting larger rather than smaller, even though theory says that shouldn’t happen. GEORGE H.W. BUSH’S ILL-FATED LUXURY TAX The great, late, Walter Williams opined on this issue more recently. Here are segments of his 2011 column. Let’s look at what happened whenGeorge H.W. Bush signed the Omnibus Budget Reconciliation Act of 1990 and broke his “read my lips” vow not to agree to new taxes. When Congress imposed a 10 percent luxury tax on yachts, private HOW DO WE RESCUE YOUNG PEOPLE FROM SOCIALISM? Some recent polling data is very discouraging. I started fretting about the socialist tendencies of young people early last decade. And when Sanders attracted a lot of youth support in 2016, I gave the issue even more attention, and I’ve since continued to investigate why so many young people are sympathetic to such a poisonous ideology with a lengthy track record of failure and deprivation. THE ECONOMIC EFFECTS OF WEALTH TAXES 3 wealth taxes, down from a high of 12 countries in 1996.4 Specifically, Norway imposes a wealth tax at 0.15 percent at the national level plus 0.70 percent at the municipality level for a FISCAL POLICY LESSONS FROM ICELAND Fiscal Policy Lessons from Iceland. Iceland is a tiny little country with just 338,000 people (about the population of Santa Ana, CA), but that doesn’t mean it can’t teach us lessons about public policy. I wrote about the nation’s approach to fisheries in 2016, and explained that the property rights-based system is the best way of HOW WOMEN ARE DISADVANTAGED BY THE TAX CODE AND SOCIAL For instance, the elimination of all of these marriage-based rules raises participation at age 25 by over 20 percentage points for married women and by five percentage points for single women. At age 45, participation for these groups is, respectively, still 15 and 3 percentage point higher without these marital benefits provisions.ABOUT CF&P
Center’s Information The Center for Freedom and Prosperity (CF&P) is a non-profit organization created to advance market liberalization. The top project of CF&P is the Coalition for Tax Competition, which is fighting to preserve jurisdictional tax competition, fiscal sovereignty, and financial privacy from erosion by internationalbureaucrats.
THE ECONOMICS OF REDISTRIBUTIONISM The main point of that column was to show that countries should try to be in the top-left section, where there is less redistribution and less government control.. But I also wanted to help people understand that redistributionism and socialism are not the same thing. NEW LEAK OF TAXPAYER INFO IS (MORE) EVIDENCE OF IRS CORRUPTION But there is still plenty of IRS behavior to criticize. Most notably, the tax agency allowed itself to be weaponized by the Obama White House, using its power to persecute and harass organizations associated with the “Tea Party.”. That grotesque abuse of power largely was designed to weaken opposition to Obama’s statist agenda and make it easier for him to win re-election. GDP, GDI, AND ECONOMIC ANALYSIS the data aren’t perfect. GDP is not measured directly. Instead, the BEA sums up economy-wide expenditures from dozens of data sources, covering consumption, investment, government spending, net exports and more. the underlying data are noisy and incomplete, meaning that revisions to GDP growth estimates can be large and often confusing. CORONAVIRUS AND FEDERALISM Coronavirus and Federalism. I was a big fan of federalism (to the extent it still exists) before any of us ever heard of the coronavirus. And, given the federal government’s incompetent response to the pandemic, I’m an even bigger fan of federalism today. Though that doesn’t mean states are paragons of efficiencyand competence.
EXPANDING THE WELFARE STATE WITH PER-CHILD HANDOUTS Expanding the Welfare State with Per-Child Handouts. Two days ago, I shared data showing that people in the big nations of Western Europe only have about 75 cents of income for every $1 that Americans earn. That’s a remarkable gap, and it’s getting larger rather than smaller, even though theory says that shouldn’t happen. ANOTHER TROUBLING IRS LEAK OF TAXPAYER DATA The IRS has a history of misconduct. ProPublica‘s outgoing president called its recent story on the tax returns of wealthy Americans “the most important story we have ever published.” Discerning readers were surely disappointed then to find not a bombshell, but a giant nothing burger.Far from highlighting misconduct or unfairness, the story found only the lawmaker-intended tax treatment BIDEN’S GLOBAL TAX CARTEL: BAD NEWS FOR WORKERS AND CONSUMERS Biden’s tax agenda – especially the proposed increase in the corporate rate – would be very bad for American competitiveness.. We know this is true because the Administration wants to violate the sovereignty of other nations with a scheme that would require all nations to impose a minimum corporate tax rate of 15 percent. RED STATES VS BLUE STATES, PART II The unemployment rate in April nationwide was 6.1%, but this obscures giant variations in the states. With some exceptions, those run by Democrats such as California (8.3%) and New York (8.2%) continued to suffer significantly higher unemployment than those led by Republicans such as South Dakota (2.8%) and Montana (3.7%). INDIVIDUALISM AND SOCIETY Individualism and Society. When talking with people who dislike free enterprise, it’s quite common that they will admit (at least once I share some of the evidence) that markets produce more prosperity than statism. But that generally doesn’t convince them. In part, this is because they believe it is wrong to have significant income FREEDOM AND PROSPERITYBLOGNEWSPUBLICATIONSOPINION & COMMENTARYVIDEOSISSUES "I write to express support for the Center for Freedom and Prosperity's support of tax competition." ~ Milton Friedman, Nobel Laureate ~ "By fighting against an international tax cartel and working to preserve financial privacy, the Center for Freedom and Prosperity is protecting taxpayers, both in America and around theworld."
ABOUT CF&P
Center’s Information The Center for Freedom and Prosperity (CF&P) is a non-profit organization created to advance market liberalization. The top project of CF&P is the Coalition for Tax Competition, which is fighting to preserve jurisdictional tax competition, fiscal sovereignty, and financial privacy from erosion by internationalbureaucrats.
BIDEN’S MISGUIDED KEYNESIAN “STIMULUS” Mr. Biden is bringing a new twist to the profligacy. Instead of trying to justify the new spending by saying it is needed to compensate households and businesses for government-mandated lockdowns, he is making the Keynesian argument that the new spending is a way of stimulating the economy. The same approach was used when he was Vice President, of course, but did not yield COALITION TO CONGRESS: DON’T RESTRICT RETAIL INVESTORS "I write to express support for the Center for Freedom and Prosperity's support of tax competition." ~ Milton Friedman, Nobel Laureate ~ "By fighting against an international tax cartel and working to preserve financial privacy, the Center for Freedom and Prosperity is protecting taxpayers, both in America and around theworld."
EXPANDING THE WELFARE STATE WITH PER-CHILD HANDOUTS Expanding the Welfare State with Per-Child Handouts. Two days ago, I shared data showing that people in the big nations of Western Europe only have about 75 cents of income for every $1 that Americans earn. That’s a remarkable gap, and it’s getting larger rather than smaller, even though theory says that shouldn’t happen. RED STATES VS BLUE STATES, PART II The unemployment rate in April nationwide was 6.1%, but this obscures giant variations in the states. With some exceptions, those run by Democrats such as California (8.3%) and New York (8.2%) continued to suffer significantly higher unemployment than those led by Republicans such as South Dakota (2.8%) and Montana (3.7%). THE ECONOMICS OF “LABOR SHORTAGES” The idea that the United States suffers from a labor shortage is fast becoming conventional wisdom. But before you accept the idea, it’s worth taking a few minutes to think it through. BIDEN AND THE OECD PUSHING “GLOBAL MINIMUM TAX” TO Biden and the OECD Pushing “Global Minimum Tax” to Increase Business Tax Burdens. Posted on March 16, 2021 by Dan Mitchell. For the past couple of decades, I’ve been warning ( over and over and over and over again) that politicians want to curtail tax competition so that it will be easier for them to increase tax burdens. HOW DO WE RESCUE YOUNG PEOPLE FROM SOCIALISM? Some recent polling data is very discouraging. I started fretting about the socialist tendencies of young people early last decade. And when Sanders attracted a lot of youth support in 2016, I gave the issue even more attention, and I’ve since continued to investigate why so many young people are sympathetic to such a poisonous ideology with a lengthy track record of failure and deprivation. GEORGE H.W. BUSH’S ILL-FATED LUXURY TAX The great, late, Walter Williams opined on this issue more recently. Here are segments of his 2011 column. Let’s look at what happened whenGeorge H.W. Bush signed the Omnibus Budget Reconciliation Act of 1990 and broke his “read my lips” vow not to agree to new taxes. When Congress imposed a 10 percent luxury tax on yachts, private FREEDOM AND PROSPERITYBLOGNEWSPUBLICATIONSOPINION & COMMENTARYVIDEOSISSUES "I write to express support for the Center for Freedom and Prosperity's support of tax competition." ~ Milton Friedman, Nobel Laureate ~ "By fighting against an international tax cartel and working to preserve financial privacy, the Center for Freedom and Prosperity is protecting taxpayers, both in America and around theworld."
ABOUT CF&P
Center’s Information The Center for Freedom and Prosperity (CF&P) is a non-profit organization created to advance market liberalization. The top project of CF&P is the Coalition for Tax Competition, which is fighting to preserve jurisdictional tax competition, fiscal sovereignty, and financial privacy from erosion by internationalbureaucrats.
BIDEN’S MISGUIDED KEYNESIAN “STIMULUS” Mr. Biden is bringing a new twist to the profligacy. Instead of trying to justify the new spending by saying it is needed to compensate households and businesses for government-mandated lockdowns, he is making the Keynesian argument that the new spending is a way of stimulating the economy. The same approach was used when he was Vice President, of course, but did not yield COALITION TO CONGRESS: DON’T RESTRICT RETAIL INVESTORS "I write to express support for the Center for Freedom and Prosperity's support of tax competition." ~ Milton Friedman, Nobel Laureate ~ "By fighting against an international tax cartel and working to preserve financial privacy, the Center for Freedom and Prosperity is protecting taxpayers, both in America and around theworld."
EXPANDING THE WELFARE STATE WITH PER-CHILD HANDOUTS Expanding the Welfare State with Per-Child Handouts. Two days ago, I shared data showing that people in the big nations of Western Europe only have about 75 cents of income for every $1 that Americans earn. That’s a remarkable gap, and it’s getting larger rather than smaller, even though theory says that shouldn’t happen. RED STATES VS BLUE STATES, PART II The unemployment rate in April nationwide was 6.1%, but this obscures giant variations in the states. With some exceptions, those run by Democrats such as California (8.3%) and New York (8.2%) continued to suffer significantly higher unemployment than those led by Republicans such as South Dakota (2.8%) and Montana (3.7%). THE ECONOMICS OF “LABOR SHORTAGES” The idea that the United States suffers from a labor shortage is fast becoming conventional wisdom. But before you accept the idea, it’s worth taking a few minutes to think it through. BIDEN AND THE OECD PUSHING “GLOBAL MINIMUM TAX” TO Biden and the OECD Pushing “Global Minimum Tax” to Increase Business Tax Burdens. Posted on March 16, 2021 by Dan Mitchell. For the past couple of decades, I’ve been warning ( over and over and over and over again) that politicians want to curtail tax competition so that it will be easier for them to increase tax burdens. HOW DO WE RESCUE YOUNG PEOPLE FROM SOCIALISM? Some recent polling data is very discouraging. I started fretting about the socialist tendencies of young people early last decade. And when Sanders attracted a lot of youth support in 2016, I gave the issue even more attention, and I’ve since continued to investigate why so many young people are sympathetic to such a poisonous ideology with a lengthy track record of failure and deprivation. GEORGE H.W. BUSH’S ILL-FATED LUXURY TAX The great, late, Walter Williams opined on this issue more recently. Here are segments of his 2011 column. Let’s look at what happened whenGeorge H.W. Bush signed the Omnibus Budget Reconciliation Act of 1990 and broke his “read my lips” vow not to agree to new taxes. When Congress imposed a 10 percent luxury tax on yachts, private CORONAVIRUS AND PROPERTY RIGHTS Indeed, that was the point of a five-part series (see here, here, here, here, and here) on the topic.. One implication of all this analysis is that it’s almost always a good idea to let the private sector take the lead.. Which is why businesses rather than governments should decide whether to GDP, GDI, AND ECONOMIC ANALYSIS the data aren’t perfect. GDP is not measured directly. Instead, the BEA sums up economy-wide expenditures from dozens of data sources, covering consumption, investment, government spending, net exports and more. the underlying data are noisy and incomplete, meaning that revisions to GDP growth estimates can be large and often confusing. PAUL KRUGMAN ADMITS BIG GOVERNMENT MEANS HUGE TAX While Paul Krugman sometimes misuses and misinterprets numbers for ideological reasons (see his errors regarding the United States, France, Canada, the United States, Estonia, Germany, the United States, and the United Kingdom), he isn’t oblivious to reality.. At least not totally. He’s acknowledged, for instance, that there is a Laffer Curve and that tax rates can become so onerous that BIDEN’S ANTI-EMPIRICAL BUDGETARY PHILOSOPHY They get flummoxed for the simple reason that no nation has ever become rich with big government.. There are some rich nations that have big governments, to be sure, but they all became rich in the 1800s and early 1900s, back when government was a tiny burden (and there often were no income taxes).. That’s true for the United States.And it’s true for Western Europe. WERE HITLER’S NATIONAL SOCIALISTS REALLY SOCIALISTS? A ‘fact-checker’ at Washington Post, Glenn Kessler, asserts that a Republican Member of the House of Representatives is wrong in a recent comment on Hitler’s national socialism.It is not, as she had said, a branch of socialism. Kessler writes that the German Nazi Party, despite its name (the National-Socialist Workers’ Party), ‘was not a socialist party’ BIDEN’S GLOBAL TAX CARTEL: BAD NEWS FOR WORKERS AND CONSUMERS Biden’s tax agenda – especially the proposed increase in the corporate rate – would be very bad for American competitiveness.. We know this is true because the Administration wants to violate the sovereignty of other nations with a scheme that would require all nations to impose a minimum corporate tax rate of 15 percent. RED STATES VS BLUE STATES, PART II The unemployment rate in April nationwide was 6.1%, but this obscures giant variations in the states. With some exceptions, those run by Democrats such as California (8.3%) and New York (8.2%) continued to suffer significantly higher unemployment than those led by Republicans such as South Dakota (2.8%) and Montana (3.7%). AMERICA’S MOST LIBERTARIAN STATE IS…? In any event, the report combines economic freedom and personal freedom and tells us which state could be considered the most libertarian. And the winner is the Sunshine State of Florida, followed by New Hampshire, Indiana, Colorado, and Nevada. NEW LEAK OF TAXPAYER INFO IS (MORE) EVIDENCE OF IRS CORRUPTION But there is still plenty of IRS behavior to criticize. Most notably, the tax agency allowed itself to be weaponized by the Obama White House, using its power to persecute and harass organizations associated with the “Tea Party.”. That grotesque abuse of power largely was designed to weaken opposition to Obama’s statist agenda and make it easier for him to win re-election. ANOTHER TROUBLING IRS LEAK OF TAXPAYER DATA The IRS has a history of misconduct. ProPublica‘s outgoing president called its recent story on the tax returns of wealthy Americans “the most important story we have ever published.” Discerning readers were surely disappointed then to find not a bombshell, but a giant nothing burger.Far from highlighting misconduct or unfairness, the story found only the lawmaker-intended tax treatment FREEDOM AND PROSPERITYBLOGNEWSPUBLICATIONSOPINION & COMMENTARYVIDEOSISSUES "I write to express support for the Center for Freedom and Prosperity's support of tax competition." ~ Milton Friedman, Nobel Laureate ~ "By fighting against an international tax cartel and working to preserve financial privacy, the Center for Freedom and Prosperity is protecting taxpayers, both in America and around theworld."
ABOUT CF&P
Center’s Information The Center for Freedom and Prosperity (CF&P) is a non-profit organization created to advance market liberalization. The top project of CF&P is the Coalition for Tax Competition, which is fighting to preserve jurisdictional tax competition, fiscal sovereignty, and financial privacy from erosion by international bureaucrats. The Center for Freedom and Prosperity Foundation BIDEN’S MISGUIDED KEYNESIAN “STIMULUS” Mr. Biden is bringing a new twist to the profligacy. Instead of trying to justify the new spending by saying it is needed to compensate households and businesses for government-mandated lockdowns, he is making the Keynesian argument that the new spending is a way of stimulating the economy. The same approach was used when he was Vice President, of course, but did not yield COALITION TO CONGRESS: DON’T RESTRICT RETAIL INVESTORS "I write to express support for the Center for Freedom and Prosperity's support of tax competition." ~ Milton Friedman, Nobel Laureate ~ "By fighting against an international tax cartel and working to preserve financial privacy, the Center for Freedom and Prosperity is protecting taxpayers, both in America and around theworld."
PAUL KRUGMAN ADMITS BIG GOVERNMENT MEANS HUGE TAX While Paul Krugman sometimes misuses and misinterprets numbers for ideological reasons (see his errors regarding the United States, France, Canada, the United States, Estonia, Germany, the United States, and the United Kingdom), he isn’t oblivious to reality.. At least not totally. He’s acknowledged, for instance, that there is a Laffer Curve and that tax rates can become so onerous that GEORGE H.W. BUSH’S ILL-FATED LUXURY TAX In most cases, the fundamental problem with class-warfare taxes is that they penalize saving and investment with double taxation.This is bad for workers because there’s a strong link between the level of capital (i.e., machines, tools, technology) and productivity.. And since there’s also a strong link between productivity and pay, this explains why ordinary people generally don’t enjoy EXPANDING THE WELFARE STATE WITH PER-CHILD HANDOUTS the proposal for a Family Income Supplemental Credit (Fisc) from Oren Cass and Wells King is misguided, mostly because it would raise tax rates and expand the burden of government spending. the Fisc would cost $200 billion annually. $80 billion per year, would be financed with tax increases. this fact alone should make the Fisc a non-starter as a matter of fiscal policy. THE ECONOMICS OF “LABOR SHORTAGES” The idea that the United States suffers from a labor shortage is fast becoming conventional wisdom. But before you accept the idea, it’s worth taking a few minutes to think it through. HOW DO WE RESCUE YOUNG PEOPLE FROM SOCIALISM? Some recent polling data is very discouraging. I started fretting about the socialist tendencies of young people early last decade. And when Sanders attracted a lot of youth support in 2016, I gave the issue even more attention, and I’ve since continued to investigate why so many young people are sympathetic to such a poisonous ideology with a lengthy track record of failure and deprivation. BIDEN AND THE OECD PUSHING “GLOBAL MINIMUM TAX” TO They’ve even been using an international bureaucracy – the Paris-based Organization for Economic Cooperation and Development – in an effort to create a global high-tax cartel.Sort of an “OPEC for politicians.” All of which would lead to “goldfish government.”Though “predatory government” also would be an accurate term. The Obama Administration did not have a good trackrecord
FREEDOM AND PROSPERITYBLOGNEWSPUBLICATIONSOPINION & COMMENTARYVIDEOSISSUES "I write to express support for the Center for Freedom and Prosperity's support of tax competition." ~ Milton Friedman, Nobel Laureate ~ "By fighting against an international tax cartel and working to preserve financial privacy, the Center for Freedom and Prosperity is protecting taxpayers, both in America and around theworld."
ABOUT CF&P
Center’s Information The Center for Freedom and Prosperity (CF&P) is a non-profit organization created to advance market liberalization. The top project of CF&P is the Coalition for Tax Competition, which is fighting to preserve jurisdictional tax competition, fiscal sovereignty, and financial privacy from erosion by international bureaucrats. The Center for Freedom and Prosperity Foundation BIDEN’S MISGUIDED KEYNESIAN “STIMULUS” Mr. Biden is bringing a new twist to the profligacy. Instead of trying to justify the new spending by saying it is needed to compensate households and businesses for government-mandated lockdowns, he is making the Keynesian argument that the new spending is a way of stimulating the economy. The same approach was used when he was Vice President, of course, but did not yield COALITION TO CONGRESS: DON’T RESTRICT RETAIL INVESTORS "I write to express support for the Center for Freedom and Prosperity's support of tax competition." ~ Milton Friedman, Nobel Laureate ~ "By fighting against an international tax cartel and working to preserve financial privacy, the Center for Freedom and Prosperity is protecting taxpayers, both in America and around theworld."
PAUL KRUGMAN ADMITS BIG GOVERNMENT MEANS HUGE TAX While Paul Krugman sometimes misuses and misinterprets numbers for ideological reasons (see his errors regarding the United States, France, Canada, the United States, Estonia, Germany, the United States, and the United Kingdom), he isn’t oblivious to reality.. At least not totally. He’s acknowledged, for instance, that there is a Laffer Curve and that tax rates can become so onerous that GEORGE H.W. BUSH’S ILL-FATED LUXURY TAX In most cases, the fundamental problem with class-warfare taxes is that they penalize saving and investment with double taxation.This is bad for workers because there’s a strong link between the level of capital (i.e., machines, tools, technology) and productivity.. And since there’s also a strong link between productivity and pay, this explains why ordinary people generally don’t enjoy EXPANDING THE WELFARE STATE WITH PER-CHILD HANDOUTS the proposal for a Family Income Supplemental Credit (Fisc) from Oren Cass and Wells King is misguided, mostly because it would raise tax rates and expand the burden of government spending. the Fisc would cost $200 billion annually. $80 billion per year, would be financed with tax increases. this fact alone should make the Fisc a non-starter as a matter of fiscal policy. THE ECONOMICS OF “LABOR SHORTAGES” The idea that the United States suffers from a labor shortage is fast becoming conventional wisdom. But before you accept the idea, it’s worth taking a few minutes to think it through. HOW DO WE RESCUE YOUNG PEOPLE FROM SOCIALISM? Some recent polling data is very discouraging. I started fretting about the socialist tendencies of young people early last decade. And when Sanders attracted a lot of youth support in 2016, I gave the issue even more attention, and I’ve since continued to investigate why so many young people are sympathetic to such a poisonous ideology with a lengthy track record of failure and deprivation. BIDEN AND THE OECD PUSHING “GLOBAL MINIMUM TAX” TO They’ve even been using an international bureaucracy – the Paris-based Organization for Economic Cooperation and Development – in an effort to create a global high-tax cartel.Sort of an “OPEC for politicians.” All of which would lead to “goldfish government.”Though “predatory government” also would be an accurate term. The Obama Administration did not have a good trackrecord
CORONAVIRUS AND PROPERTY RIGHTS Indeed, that was the point of a five-part series (see here, here, here, here, and here) on the topic.. One implication of all this analysis is that it’s almost always a good idea to let the private sector take the lead.. Which is why businesses rather than governments should decide whether to BIDEN’S ANTI-EMPIRICAL BUDGETARY PHILOSOPHY They get flummoxed for the simple reason that no nation has ever become rich with big government.. There are some rich nations that have big governments, to be sure, but they all became rich in the 1800s and early 1900s, back when government was a tiny burden (and there often were no income taxes).. That’s true for the United States.And it’s true for Western Europe. WERE HITLER’S NATIONAL SOCIALISTS REALLY SOCIALISTS? A ‘fact-checker’ at Washington Post, Glenn Kessler, asserts that a Republican Member of the House of Representatives is wrong in a recent comment on Hitler’s national socialism.It is not, as she had said, a branch of socialism. Kessler writes that the German Nazi Party, despite its name (the National-Socialist Workers’ Party), ‘was not a socialist party’ PAUL KRUGMAN ADMITS BIG GOVERNMENT MEANS HUGE TAX While Paul Krugman sometimes misuses and misinterprets numbers for ideological reasons (see his errors regarding the United States, France, Canada, the United States, Estonia, Germany, the United States, and the United Kingdom), he isn’t oblivious to reality.. At least not totally. He’s acknowledged, for instance, that there is a Laffer Curve and that tax rates can become so onerous that GDP, GDI, AND ECONOMIC ANALYSIS the data aren’t perfect. GDP is not measured directly. Instead, the BEA sums up economy-wide expenditures from dozens of data sources, covering consumption, investment, government spending, net exports and more. the underlying data are noisy and incomplete, meaning that revisions to GDP growth estimates can be large and often confusing. BIDEN’S GLOBAL TAX CARTEL: BAD NEWS FOR WORKERS AND CONSUMERS Biden’s tax agenda – especially the proposed increase in the corporate rate – would be very bad for American competitiveness.. We know this is true because the Administration wants to violate the sovereignty of other nations with a scheme that would require all nations to impose a minimum corporate tax rate of 15 percent. NEW LEAK OF TAXPAYER INFO IS (MORE) EVIDENCE OF IRS CORRUPTION But there is still plenty of IRS behavior to criticize. Most notably, the tax agency allowed itself to be weaponized by the Obama White House, using its power to persecute and harass organizations associated with the “Tea Party.”. That grotesque abuse of power largely was designed to weaken opposition to Obama’s statist agenda and make it easier for him to win re-election. RED STATES VS BLUE STATES, PART II The unemployment rate in April nationwide was 6.1%, but this obscures giant variations in the states. With some exceptions, those run by Democrats such as California (8.3%) and New York (8.2%) continued to suffer significantly higher unemployment than those led by Republicans such as South Dakota (2.8%) and Montana (3.7%). ANOTHER TROUBLING IRS LEAK OF TAXPAYER DATA The IRS has a history of misconduct. ProPublica‘s outgoing president called its recent story on the tax returns of wealthy Americans “the most important story we have ever published.” Discerning readers were surely disappointed then to find not a bombshell, but a giant nothing burger.Far from highlighting misconduct or unfairness, the story found only the lawmaker-intended tax treatment ANOTHER MINORITY CONVERT TO GUN RIGHTS More are realizing they can't rely on government. Charles Blow is a doctrinaire left-wing columnist for the New York Times.But I applauded him late last year for expressing sympathy for black gun ownership. FREEDOM AND PROSPERITYBLOGNEWSPUBLICATIONSOPINION & COMMENTARYVIDEOSISSUES "I write to express support for the Center for Freedom and Prosperity's support of tax competition." ~ Milton Friedman, Nobel Laureate ~ "By fighting against an international tax cartel and working to preserve financial privacy, the Center for Freedom and Prosperity is protecting taxpayers, both in America and around theworld."
ABOUT CF&P
Center’s Information The Center for Freedom and Prosperity (CF&P) is a non-profit organization created to advance market liberalization. The top project of CF&P is the Coalition for Tax Competition, which is fighting to preserve jurisdictional tax competition, fiscal sovereignty, and financial privacy from erosion by internationalbureaucrats.
PAUL KRUGMAN ADMITS BIG GOVERNMENT MEANS HUGE TAX While Paul Krugman sometimes misuses and misinterprets numbers for ideological reasons (see his errors regarding the United States, France, Canada, the United States, Estonia, Germany, the United States, and the United Kingdom), he isn’t oblivious to reality.. At least not totally. He’s acknowledged, for instance, that there is a Laffer Curve and that tax rates can become so onerous that BIDEN’S MISGUIDED KEYNESIAN “STIMULUS” Mr. Biden is bringing a new twist to the profligacy. Instead of trying to justify the new spending by saying it is needed to compensate households and businesses for government-mandated lockdowns, he is making the Keynesian argument that the new spending is a way of stimulating the economy. The same approach was used when he was Vice President, of course, but did not yield THE ECONOMICS OF “LABOR SHORTAGES” The idea that the United States suffers from a labor shortage is fast becoming conventional wisdom. But before you accept the idea, it’s worth taking a few minutes to think it through. GDP, GDI, AND ECONOMIC ANALYSIS the data aren’t perfect. GDP is not measured directly. Instead, the BEA sums up economy-wide expenditures from dozens of data sources, covering consumption, investment, government spending, net exports and more. the underlying data are noisy and incomplete, meaning that revisions to GDP growth estimates can be large and often confusing. COALITION TO CONGRESS: DON’T RESTRICT RETAIL INVESTORS "I write to express support for the Center for Freedom and Prosperity's support of tax competition." ~ Milton Friedman, Nobel Laureate ~ "By fighting against an international tax cartel and working to preserve financial privacy, the Center for Freedom and Prosperity is protecting taxpayers, both in America and around theworld."
BIDEN’S ANTI-EMPIRICAL BUDGETARY PHILOSOPHY They get flummoxed for the simple reason that no nation has ever become rich with big government.. There are some rich nations that have big governments, to be sure, but they all became rich in the 1800s and early 1900s, back when government was a tiny burden (and there often were no income taxes).. That’s true for the United States.And it’s true for Western Europe. EXPANDING THE WELFARE STATE WITH PER-CHILD HANDOUTS Expanding the Welfare State with Per-Child Handouts. Two days ago, I shared data showing that people in the big nations of Western Europe only have about 75 cents of income for every $1 that Americans earn. That’s a remarkable gap, and it’s getting larger rather than smaller, even though theory says that shouldn’t happen. HOW DO WE RESCUE YOUNG PEOPLE FROM SOCIALISM? Some recent polling data is very discouraging. I started fretting about the socialist tendencies of young people early last decade. And when Sanders attracted a lot of youth support in 2016, I gave the issue even more attention, and I’ve since continued to investigate why so many young people are sympathetic to such a poisonous ideology with a lengthy track record of failure and deprivation. FREEDOM AND PROSPERITYBLOGNEWSPUBLICATIONSOPINION & COMMENTARYVIDEOSISSUES "I write to express support for the Center for Freedom and Prosperity's support of tax competition." ~ Milton Friedman, Nobel Laureate ~ "By fighting against an international tax cartel and working to preserve financial privacy, the Center for Freedom and Prosperity is protecting taxpayers, both in America and around theworld."
ABOUT CF&P
Center’s Information The Center for Freedom and Prosperity (CF&P) is a non-profit organization created to advance market liberalization. The top project of CF&P is the Coalition for Tax Competition, which is fighting to preserve jurisdictional tax competition, fiscal sovereignty, and financial privacy from erosion by internationalbureaucrats.
PAUL KRUGMAN ADMITS BIG GOVERNMENT MEANS HUGE TAX While Paul Krugman sometimes misuses and misinterprets numbers for ideological reasons (see his errors regarding the United States, France, Canada, the United States, Estonia, Germany, the United States, and the United Kingdom), he isn’t oblivious to reality.. At least not totally. He’s acknowledged, for instance, that there is a Laffer Curve and that tax rates can become so onerous that BIDEN’S MISGUIDED KEYNESIAN “STIMULUS” Mr. Biden is bringing a new twist to the profligacy. Instead of trying to justify the new spending by saying it is needed to compensate households and businesses for government-mandated lockdowns, he is making the Keynesian argument that the new spending is a way of stimulating the economy. The same approach was used when he was Vice President, of course, but did not yield THE ECONOMICS OF “LABOR SHORTAGES” The idea that the United States suffers from a labor shortage is fast becoming conventional wisdom. But before you accept the idea, it’s worth taking a few minutes to think it through. GDP, GDI, AND ECONOMIC ANALYSIS the data aren’t perfect. GDP is not measured directly. Instead, the BEA sums up economy-wide expenditures from dozens of data sources, covering consumption, investment, government spending, net exports and more. the underlying data are noisy and incomplete, meaning that revisions to GDP growth estimates can be large and often confusing. COALITION TO CONGRESS: DON’T RESTRICT RETAIL INVESTORS "I write to express support for the Center for Freedom and Prosperity's support of tax competition." ~ Milton Friedman, Nobel Laureate ~ "By fighting against an international tax cartel and working to preserve financial privacy, the Center for Freedom and Prosperity is protecting taxpayers, both in America and around theworld."
BIDEN’S ANTI-EMPIRICAL BUDGETARY PHILOSOPHY They get flummoxed for the simple reason that no nation has ever become rich with big government.. There are some rich nations that have big governments, to be sure, but they all became rich in the 1800s and early 1900s, back when government was a tiny burden (and there often were no income taxes).. That’s true for the United States.And it’s true for Western Europe. EXPANDING THE WELFARE STATE WITH PER-CHILD HANDOUTS Expanding the Welfare State with Per-Child Handouts. Two days ago, I shared data showing that people in the big nations of Western Europe only have about 75 cents of income for every $1 that Americans earn. That’s a remarkable gap, and it’s getting larger rather than smaller, even though theory says that shouldn’t happen. HOW DO WE RESCUE YOUNG PEOPLE FROM SOCIALISM? Some recent polling data is very discouraging. I started fretting about the socialist tendencies of young people early last decade. And when Sanders attracted a lot of youth support in 2016, I gave the issue even more attention, and I’ve since continued to investigate why so many young people are sympathetic to such a poisonous ideology with a lengthy track record of failure and deprivation. CORONAVIRUS AND PROPERTY RIGHTS Indeed, that was the point of a five-part series (see here, here, here, here, and here) on the topic.. One implication of all this analysis is that it’s almost always a good idea to let the private sector take the lead.. Which is why businesses rather than governments should decide whether to PAUL KRUGMAN ADMITS BIG GOVERNMENT MEANS HUGE TAX While Paul Krugman sometimes misuses and misinterprets numbers for ideological reasons (see his errors regarding the United States, France, Canada, the United States, Estonia, Germany, the United States, and the United Kingdom), he isn’t oblivious to reality.. At least not totally. He’s acknowledged, for instance, that there is a Laffer Curve and that tax rates can become so onerous that BIDEN’S ANTI-EMPIRICAL BUDGETARY PHILOSOPHY They get flummoxed for the simple reason that no nation has ever become rich with big government.. There are some rich nations that have big governments, to be sure, but they all became rich in the 1800s and early 1900s, back when government was a tiny burden (and there often were no income taxes).. That’s true for the United States.And it’s true for Western Europe. BY HISTORICAL STANDARDS, TODAY’S AMERICANS ARE That’s a common practice in the world of policy, so I don’t blame people for being suspicious. So take a look at this chart, which I also first shared earlier this year.It shows that the increase in living standards has been even more dramatic if you look at changessince 1820.
THE ECONOMICS OF “LABOR SHORTAGES” The idea that the United States suffers from a labor shortage is fast becoming conventional wisdom. But before you accept the idea, it’s worth taking a few minutes to think it through. WERE HITLER’S NATIONAL SOCIALISTS REALLY SOCIALISTS? A ‘fact-checker’ at Washington Post, Glenn Kessler, asserts that a Republican Member of the House of Representatives is wrong in a recent comment on Hitler’s national socialism.It is not, as she had said, a branch of socialism. Kessler writes that the German Nazi Party, despite its name (the National-Socialist Workers’ Party), ‘was not a socialist party’ NEW LEAK OF TAXPAYER INFO IS (MORE) EVIDENCE OF IRS CORRUPTION But there is still plenty of IRS behavior to criticize. Most notably, the tax agency allowed itself to be weaponized by the Obama White House, using its power to persecute and harass organizations associated with the “Tea Party.”. That grotesque abuse of power largely was designed to weaken opposition to Obama’s statist agenda and make it easier for him to win re-election. BIDEN’S FAILURE ON TRADE That being said, I was modestly hopeful that he would move trade policy in the right direction after four years of Trump’s protectionism.. To be sure, I didn’t think he would do the right thing because of some long-hidden belief in sound economics.But I figured he might reduce trade barriers simply to do the opposite ofhis predecessor.
BIDEN’S GLOBAL TAX CARTEL: BAD NEWS FOR WORKERS AND CONSUMERS Biden’s tax agenda – especially the proposed increase in the corporate rate – would be very bad for American competitiveness.. We know this is true because the Administration wants to violate the sovereignty of other nations with a scheme that would require all nations to impose a minimum corporate tax rate of 15 percent. ANOTHER TROUBLING IRS LEAK OF TAXPAYER DATA The IRS has a history of misconduct. ProPublica‘s outgoing president called its recent story on the tax returns of wealthy Americans “the most important story we have ever published.” Discerning readers were surely disappointed then to find not a bombshell, but a giant nothing burger.Far from highlighting misconduct or unfairness, the story found only the lawmaker-intended tax treatment* About CF&P
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April 16, 2021 - 12:37 pm THE VALUE-ADDED TAX: A RECIPE FOR MORE SPENDING…AND MORE DEBT We should heed the real-world evidence. Posted By Dan Mitchell March 17, 2021 - 12:15 pm WHAT BIDEN’S CORPORATE TAX INCREASE MEANS FOR AMERICANCOMPETITIVENESS
More bad news.
Posted By Dan Mitchell March 10, 2021 - 12:26 pm EXPANDING THE WELFARE STATE WITH PER-CHILD HANDOUTS Washington politicians are poised to enact a giant expansion of thewelfare state.
Posted By Dan Mitchell March 9, 2021 - 12:32 pm BIDEN’S MISGUIDED KEYNESIAN “STIMULUS” The United States is becoming more like Europe in a bad way. Posted By Dan Mitchell February 22, 2021 - 12:14 pm THE LOOMING CRISIS OF DEMOGRAPHIC DECLINE AND ENTITLEMENT EXPANSION There is a solution to both Europe’s and America’s woes. Posted By Dan MitchellMARKET CENTER BLOG
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THE MOST DISTURBING TAKEAWAY FROM BIDEN’S BUDGET PLAN Posted on May 28, 2021 Underscoring the radical nature of Biden’s budget.read more...
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BIDEN’S CLASS-WARFARE AGENDA IS BAD NEWS ACCORDING TO ACADEMIC RESEARCH ON TAXES AND GROWTH Posted on May 27, 2021__
RED STATES VS BLUE STATES, PART II Posted on May 26, 2021__
DEMOGRAPHIC DECLINE = FISCAL CRISIS Posted on May 25, 2021__
BIDEN’S TAX PLAN CONTAINS A POISON PILL FOR AMERICAN FIRMS THAT COMPETE IN GLOBAL MARKETS Posted on May 24, 2021 PUBLICATIONS & COMMENTARY__
LIBERAL CALLS TO BREAK UP US COMPANIES PLAYS INTO CHINA’S HANDS Posted on May 29, 2021 This article appeared in Townhall.read more...
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BIDEN TAX PLAN HURTS COMPETITIVENESS OF U.S. MULTINATIONAL FIRMS Posted on May 21, 2021 This article appeared in the Orange County Register.read more...
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NEW US ADMINISTRATION ADDS TO OECD MOMENTUM Posted on May 13, 2021 This article appeared in IFC Review.read more...
NEWS
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CF&P FOUNDATION POLICY BRIEF REVIEWS THE RENEWABLE FUEL STANDARD Posted on September 28, 2020 A new Policy Brief paper reviews the evidence on the Renewable FuelStandard
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CF&P FOUNDATION PAPER FINDS PROPOSED WEALTH TAX WOULD MEAN LOSS OF 1.8MILLION JOBS
Posted on August 12, 2020 The Center for Freedom & Prosperity (CF&P) Foundation today published a new paper titled, “The Economic Effects of Wealth Taxes.”read more...
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COALITION CALLS FOR LIABILITY PROTECTIONS FOR FRONTLINE PANDEMICRESPONDERS
Posted on April 15, 2020 Coalition calls for protections for healthcare workers and businesses from opportunistic and abusive lawsuits following the COVID-19pandemic.
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